Yesterday I was reading an article on CNN Money. The article was defining the top ten large metro areas where housing prices are expected to see the largest gains. The great news for sellers in Charlotte region was according to the article Charlotte ranks ninth best in likelihood of home prices increasing and the percentage of increase.
Charlotte is home to the second largest banking center in the United States. With Bank of America calling Charlotte home; it has always been an attractive place for professionals to move to. As economic confidence on the financial sector is steadily improving; jobs are openign up and more people are migrating to those areas.
That along with major companies relocating to the Charlotte region has made this a very desireable place for people to move to looking for jobs. As more companies are moving to the Charlotte area; it is attractign more professionals looking for jobs and careers to the area.
It also has not hurt Charlotte that we were awarded the Democratic National Convention for 2012. If nothing else it will help exemplify the reason Charlotte is one of the largest and fastest growing areas and why more peopel are calling Charlotte home everyday.
The bigggest indicator of positive price gains on home prices is the premium builders are now paying for land. As they see the market trending back upwards and pockets of the country poised to do better; they are purchasing land. And they are now going into multiple offer situations competing against others for the best parcels of land right now.
However; based on what we saw happen a few years ago with the skyrocketing price increases and then the dramatic price decreases...I would not expect the prices to climb at a extremely high rate. In fact anaylsts are predicting a 3% increase in prices year over year. That is considered a steady growth.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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